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Japan Promises To Invest 30 Billion Dollars In Africa In 3 Years

Japanese Prime Minister Kishida Fumio has committed to invest $30 billion in Africa’s development for the next three years. Speaking online to the 8th Tokyo International Conference on African Development (TICAD), held in Tunisia, Japanese Prime Minister Kishida Fumio said that the international order is under threat by Russia’s invasion of Ukraine.

Japanese Prime Minister Kishida Fumio, who caught Covid-19 last weekend and was in quarantine, explained her country’s vision in an online address to TICAD. The Japanese Prime Minister noted that for global peace and prosperity, a free and open international order based on law should be maintained.

Prime Minister Kishida also promised that they would work to export grain to African countries in the face of the global food crisis. Japanese Foreign Minister Hayashi Yoshimasa is also present at the conference, which was held together with the United Nations (UN), the World Bank and the African Union. The conference, which will be addressed by African and Japanese leaders, will focus on the food crisis, energy security and improving health services.

5 Billion Dollar Loan With AFDB

Stating that they want to deepen the cooperation between his country and Africa, Prime Minister Kishida Fumio pointed out the importance of investing in human capital and quality growth.

Committed to investing 30 billion dollars in the development of Africa in the next 3 years, Kishida Fumio emphasized that Japan will grow together with Africa. Reminding that they will invest 4 billion dollars in green energy and carbon-free projects, Kisida Fumio announced that they will support food production and agricultural capacities across the continent. Accordingly, Japan, in coordination with the African Development Bank (AFDB), will provide a loan of 5 billion dollars to the sustainable development of the continent.

Considering the disaster preparedness deficits caused by the Covid-19 epidemic, Japan will also support the fight against epidemic diseases in Africa. The 7th of the international conference, which was first held in 1993, was organized in the port city of Yokohama, Japan in August 2019 According to the UN’s projections, the African continent will constitute a quarter of the global population by 2050.

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